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SEC ramps-up coverage of large players
29 July 2011
New SEC rule will impact large traders and their broker-dealers
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SEC
broker-dealers
large traders
The US Securities and Exchange Commission has voted unanimously to adopt a new rule intended to enhance the regulator's ability to identify large market participants and collect information on their trading activity.
The new rule requires large traders to identify themselves to the SEC, which will then assign each trader a unique identification number. Large traders will provide this number to their broker-dealers, who will be required to maintain transaction records for each large...
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